It’s no surprise that substantial funding is needed to start a business from the ground up. However, business founders often underestimate the amount of cash necessary to grow their business successfully. Overlooking your cash needs can result in critical mistakes, though these can all be avoided with proper planning. Elliot Begoun, FMI Emerge mentor and founder of The InterTwine Group, positions emerging natural product brands to raise capital, gain distribution, drive revenue, and win market share. In his article Cash is King!, Elliot delves into the importance of emerging brands monitoring, knowing, and planning for their cash needs.
“Your go-to-market strategy and overall growth hypothesis should be shaped partially by its effect on cash. There are numerous paths to market, and you can define growth in many ways. How you approach this depends on the amount of money you plan to infuse into the business.” As every decision you make as a growing brand has a cash implication, make sure you are fully aware of all of your business needs. For a more extensive understanding of the importance of cash, read Elliot’s full article here.